Political uncertainty leads to 330 points slump in KSE-100 Index

KARACHI: The Pakistan Stock Exchange (PSX) managed to generate some signs of recovery after three-day corrections that led the benchmark KSE-100 Index to retreat almost to the 48,000 points mark. However, the market found support mark recovery and ended the first session before Friday midday break in positive.

KSE-100 Index gained 205.30 points to 48,362.93 points at the end of the first session, compared to 48,157.63 points at the end of the previous trading day. The Index went as high as 48,365.65 points while declined as low as 48,022.72 points during the trade so far.

Traders and analyst said that the room created by the corrections in the last three days invited fresh buying today. However, due to the end of the trading week, the investors will prefer to stay very selective in buying. The second session can also see some profit-taking as it is not preferred to stay invested above safe limits, they added.

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